German Dec ZEW economic sentiment index up sharply to +6.9 (exp -12.0) from -15.7 in Nov

German Dec ZEW current conditions rises to 5.7 from 5.4 in November (expected 5.0)

First move  on the economic sentiment into  a positive reading since May this year, with ZEW stating positive US economic data may have been a major contributor

ZEW:  Germany won’t have to face a recession, but cooling down of economic activity will last until the new year, Economy likely to bottom out rather than experience an upswing  within the next 6 mths. More than 3/4 of anlaysts now  expect no change from ECB on rates over the next 6 months

EUR/USD lifted to session/day’s highs of 1.2976 on the strong reading

6 Comments

  1. Very muted reaction. Only 10 ticks move?

    Let’s see if we can knock on 1,30 door today.

  2. Is there anybody who believes this report? I, personally, don’t believe it.

  3. This report is a very serious report.
    It has proven it over the year.
    I trust it better then other indicators.

  4. @TradeDeask_Rick..ZEW Expert: ECB, Bundesbank Forecasts “Too Pessimistic”

  5. Well, I just don’t trust it. First of all, we have german elections soon, so obviously they will not tell us that the situation is bad. But, take the electricity consumption stats, or the road or railway freight stats, or the chemical products consumption stats in germany. You will get a totally different picture.

  6. I think this report is manipulated. I remember it was this very same report with the much worst -6 deviation that got the lows on Nov 13.

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